The Board of Investments (BOI) has approved the registration of Primavera Residences under the 2012 Investment Priorities Plan (IPP).
Primavera Residences is the first eco-friendly and self-sustaining condominium in
Cagayan de Oro (CDO) City, and is a project of Italpinas Euroasian Design and Eco-Development Corp. (ITPI).
“Being the first green building in CDO is really a great advantage. We are setting the trend here in the most competitive city in the Philippines,” Romolo Nati, chairman and chief executive officer of ITPI, said.
The Italian-designed Primavera Residences is composed of two 10-story towers located in Pueblo de Oro Business Park in uptown Cagayan de Oro City.|
“We purposely selected to put our project in uptown Cagayan de Oro because of its good urban planning, better air quality and higher land area—110 meters above sea
level—making it practically a flood-free zone,” Nati further said.
The construction of the second tower of the Italian-Filipino joint venture is set to be
completed in 2014 and will have a capacity of 166 residential and commercial units.
“Once the project is completed, the two towers will be equipped with a pioneering system that will enable them to produce and manage their own reliable and affordable renewable energy. Primavera Residences will be able to generate roughly about a million kilowatt hours of clean energy each year,” Jose Leviste 2nd, president of ITPI, said.
The first tower of Primavera Residences was registered with the BOI and was approved on April 12, 2012. Tower A has a capacity of 162 residential and commercial units.